#Asean Morning News For April 24, 2017

Asean Morning News

Compiled by AEC News Today @aecnewstoday

Del Rosario urges gov’t to assert Asean leadership
Former foreign secretary Albert del Rosario yesterday underscored the Philippines’ opportunity to assert effective leadership as this year’s chair of the Association of Southeast Asian Nations (ASEAN) by proposing open discussion on the arbitral tribunal ruling for a lawful approach to the South China Sea dispute.
— The Philippine Star

Trump to touch down in Vietnam this November for Asia-Pacific Economic Meeting
U.S. President Donald Trump will visit Vietnam this November as part of his Asia tour during which he will attend three summits, Vice President Mike Pence said in Jakarta at the headquarters of the Association of Southeast Asian Nations (ASEAN) on Thursday.
– VnExpress.net

Commentary: Inequality looms beneath the shiny facade of Southeast Asia’s growth
Income inequality in Southeast Asia remain stubbornly high, despite strong regional growth but addressing this issue and its causes, especially the rural-urban divide, can create a more sustainable development pathway for ASEAN countries.
— Channel NewsAsia

US businesses pledged to support APEC year in Vietnam
During official visit to the U.S, Vietnam’s Deputy Prime Minister and Foreign Minister Pham Binh Minh held separate meetings on April 21 with US Acting Trade Representative Stephen Vaughn.
– Hanoitimes

Go Auto to invest RM2bil to strengthen position in Malaysia, Asean
Go Auto Group of Companies (Go Auto) and its Chinese partner, Great Wall Motors Company Ltd (GWM), are allocating up to RM2bil investment until 2021 to upgrade its assembly and production facilities in Gurun, Kedah.
— The Star Online

Fuzzy nontariff measures harm Asean firms–PIDS
The unclear nontariff measures (NTM) being implemented by Asean countries are more protectionist in nature and hike costs for exporters in the region, according to a study released by the Philippine Institute of Development Studies (PIDS).
— Business Mirror

BDO, BPI vie for ‘ASEAN bank’ status
The country’s two largest banks, BDO Unibank, Inc. and Bank of the Philippine Islands (BPI) are hoping they will meet the criteria to be considered as Qualified ASEAN Banks (QABs) to get a bigger slice of the regional financial market.
— Manila Bulletin

Citi gains from Asean’s rapid urbanisation as middle class grows
CITI’s Asean business continues to grow nicely as the bank plays well into the region’s rapid urbanisation propelled by an expanding middle class, according to Amol Gupte, Citi’s head of Asean.
— The Business Times

China, KL set up high-level bilateral committee
KUALA LUMPUR • Diplomatic and defence ties between Malaysia and China have been further enhanced with the setting up of a high-level committee between the two countries.
— The Straits Times

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Cambodia Morning News

Compiled by Vat Vin @vin_vat

MFIs seek ministry support
The Ministry of Economy and Finance (MEF) is planning to form a joint committee chaired by government officials and microfinance institutions (MFIs) to promote small loan disbursements as the new 18 percent loan interest rate cap takes effect, according to an announcement released by the government on Friday.
— The Phnom Penh Post

Government Orders 50,000 Troops Deployed to Secure Elections
The government has ordered 50,000 members of the armed forces to be deployed during the upcoming local elections to provide security.
— VOA

Bringing startups to Cambodia
Confluences Asia, a Cambodia-based consulting and advisory firm, recently helped launch its second startup in Cambodia with Portuguese e-ticketing firm Last2Ticket.
— The Phnom Penh Post

Reporter for RFA called to court
A prominent Radio Free Asia journalist who allegedly hid his identity to get in to Phnom Penh’s Prey Sar prison to interview what activists see as a key political prisoner has been called to court to potentially face charges.
— The Phnom Penh Post

Cambodia Has ‘Unique’ Chance to Cut Carbon, Study Says
Cambodia has a “unique window of opportunity” to reduce its carbon footprint by making energy production and transportation more environmentally friendly, according to a study published earlier this month.
— The Cambodia Daily (paywall)

Assistant at Government Investment Body Arrested in Graft Case
An assistant at the Council for the Development of Cambodia (CDC) was arrested last week and charged over the weekend for allegedly demanding bribes while processing applications, a court official said on Sunday.
— The Cambodia Daily (paywall)

Pulling the plug on power in Cambodia
The cityscape of Phnom Penh resembles a work in progress. On a strip of land marking the cross-section of the Mekong and Tonle Sap rivers, a new hotel under construction and empty plots face the centuries-old Royal Palace.
— Bangkok Post

The curious case of North Korea in Cambodia
On a quiet midweek evening on the streets of the Cambodian capital, the Pyongyang Restaurant is at near capacity.
— Channel NewsAsia

Why the US Must Forgive Cambodia’s War Debt
Having both spent several years investigating and exposing human rights
violations in Cambodia, we are no particular fans of the country’s government.
— The Diplomat

Ancient jewellery to return: ministry
A set of ancient gold jewellery, which once adorned an Angkorian statue before finding its way to a London art dealership, will be returned to the Kingdom, the Ministry of Culture and Fine Arts announced on Friday.
— The Phnom Penh Post

Women Councilors Still Face Major Obstacles, Report Finds
Despite an increase in numbers, female commune councilors continue to face substantial obstacles in having their voices heard over issues relating to women and children, especially when it comes to getting funding, according to
research released on Friday.
— The Cambodia Daily (paywall)

PM Tells Workers in Korea Not to Fear as Tensions Between North, US Simmer
Prime Minister Hun Sen has told migrant workers in South Korea not to worry about their safety, saying the likelihood of conflict breaking out on the peninsula is remote.
— VOA

Help Hong Kong brand Kambodja help Cambodia’s children
Cambodia is a special place for designer Linda Quach. Quach is founder of Hong Kong-based Kambodja, a small brand with a big heart that makes beautifully crafted accessories, from bags to neckties, all giving a nod to the designer’s rich French-Khmer heritage.
— South China Morning Post

Pair toil to bring music to the children of Cambodia
A pair of Pittsburgh violinists are using their talents to help bring music education to a country where such instruction has long been silenced.
— Tribune-Review

From hunter to hunted: Paedophiles head to Cambodia’s interiors as cities wise up
APART from their unhealthy interest in children, Dutchman Sebastian Reuyl and Cambodian-American Tan Saravuth share something else in common – both were given safe passage into Cambodia despite their convict pasts.
– Asian Correspondent

Indonesia Morning News

Compiled by Stella-maris Ewudolu @Estee

French shipping company CMA CGM aims to increase RI market share to 20 percent
France’s CMA CGM, the third biggest shipping company in the world, aims to increase its market share in Indonesia to 20 percent by year-end from the current 13 percent.
— The Jakarta Post

Indonesia cements reserves, braces for Federal Reserve rate hike
The Indonesian central bank is ready to face potential headwinds in the market if the United States Federal Reserve increases its benchmark interest rate this year.
— The Jakarta Post

Astra Shareholders Approve Rp 6.8t Dividend Payout, Appoint New Director and Commissioner
Astra International’s annual shareholders meeting in Jakarta on Thursday (20/04) approved dividend payouts of Rp 6.8 trillion — $510 million — and the appointment of a new director and a commissioner, the company said in a statement on the same day.
— Jakarta Globe

Freeport submits proposal to obtain export permit
In another sign of receding tension with the government over the future of its operations, PT Freeport Indonesia has submitted its proposal to obtain a permit to resume exports of copper concentrates.
— The Jakarta Post

Bali Beats London and Paris to Be Crowned World’s Best Destination by TripAdvisor
Travel app and website TripAdvisor crowned Bali as the “World’s Best Destination in 2017,” the first place in Asia to top its “Top 10 Travelers’ Choice Destinations” list.
— Jakarta Globe

Benchmark Stock Index Up on Friday Boosted by Pence Visit, Unchanged Central Bank Key Rate
Indonesia’s benchmark stock index rebounded on Friday (21/04) after a decline in the previous day, on the back of a positive sentiment on the domestic market.
— Jakarta Globe

ASIC signs fintech agreement with Indonesia
The Australian corporate regulator has signed a co-operation agreement with Indonesia’s financial services authority, Otoritas Jasa Keuangan (OJK), to “promote innovation in financial services in their respective markets”.
— Investor Daily

India may move gas-fired power plants to Indonesia
India is discussing with Indonesia the possibility of relocating its natural gas-based power plants to the South-East Asian nation.
— Hindu Business Line

PLN and Halliburton to cooperate on geothermal development in Indonesia
State-owned utility PLN and U.S. oil service firm Halliburton have signed a new cooperation agreement on the development of geothermal working areas owned by PLN in Indonesia.
— Think GeoEnergy

Tapping Indonesia’s Power Supply Mart
MALAYSIAN utility giants’ intent of building power plants in Indonesia could materialise sooner than expected as the Indonesian government is easing way of doing business and simplifying regulation processes.
— Malaysian Digest

OCBC Gets Approval For Indonesian Wealth Venture
Private lender OCBC NISP Bank, the local Indonesian unit of Singapore’s second largest lender, plans to launch a private banking service in May.
— finews.asia

Thailand, Malaysia, Indonesia team up to boost rubber prices
Thailand, Malaysia and Indonesia are taking united move to boost rubber prices.
— Financial Express Bangladesh

Indonesia’s Warjiyo says there is room to ease rate but is watching Fed
The pace of Federal Reserve interest rate hikes will be a key factor for whether or not Indonesia’s central bank adjusts policy over coming months, deputy governor Perry Warjiyo said.
— The Star Online

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Lao PDR Morning News

Compiled by Vat Vin @vin_vat

Laos clothing products in demand by European markets
ACCORDING to the latest data compilation from the Ministry of Industry and Commerce, Laos has been exporting its garment products to most of Europe while Germany has become one of the country’s most important trade partners because of the value of bilateral trade found in the data recently released by the ministry.
— The Nation

Gov’t Helps Locals Access Clean Agricultural Products
The Lao government has been focusing on the development of clean agricultural products (Good Agricultural Practice & Organic Products) to ensure locals’ good health by consuming quality food.
— Lao News Agency

ADB Reaffirms Long-Term Partnership with Lao PDR
The Asian Development Bank (ADB), through its Resident Mission in Vientiane, and the Ministry of Foreign Affairs jointly organized an event to celebrate 50 years of development partnership between the Lao PDR and ADB as well as mark the 50th anniversary of the country’s membership in the multilateral institution.
— Lao News Agency

Interview: Laos actively supports China-proposed Belt and Road Initiative: official
Laos actively supports the Belt and Road Initiative proposed by China, Vice President of Laos-China Cooperation Committee Vichit Sindavong told Xinhua in a recent interview, adding that Lao leaders highly appreciate the initiative.
— Xinhua

Lao and now: Mekong River, Vientiane, Thailand
“We think kids are old enough to go to school when they can reach over their head and touch their opposite ear,” says the young Lao schoolteacher at the village of Ban Phar Leib on a remote stretch of the Mekong River.
— The Australian

Vietnamese Prime Minister to Visit Laos
Vietnamese Prime Minister Nguyen Xuan Phuc will pay an official working visit to the Lao PDR on April 26-27 in response to an invitation by his Lao counterpart, Mr Thongloun Sisoulith and to enhance the long traditional
friendship, special solidarity and comprehensive cooperation between Laos and Vietnam.
— Lao News Agency

Xiengkhouang Approves 400 Million Kip to Turn Leaders’ Cave into Tourist Attraction
Xiengkhouang authorities have approved 400 million kip (USD 48,560) to turn a cave in Tai village, Peak district into a historical tourist site in the province.
— Lao News Agency

Vietnamese PM to Cambodia and Laos to strengthen ties
Vietnam’s relations with its neighbors Cambodia and Laos will receive a new boost with the visits that Prime Minister Nguyen Xuan Phuc will carry out from tomorrow to those countries, with which the ties are ample.
— Prensa Latina

Malaysia Morning News

Compiled by Vat Vin @vin_vat

Malaysia Reaches Deal on $2.5 Billion of 1MDB Bonds
The battle over the repayment of 1MDB bonds may be coming to an end. Malaysia has reached an agreement to pay Abu Dhabi $2.5 billion as partial debt settlement for embattled government fund 1Malaysia Development Bhd., according to a person familiar with the matter.
— Bloomberg

Push for Islamic law extends Najib’s hold on power
Ongoing attempts to expand Islamic law in Malaysia have changed its political landscape, and may be the most important factor in maintaining the Najib Razak administration’s grip on power.
— The Straits Times

Planters target existing oil palm plantations
There is increasing appetite for local plantation companies to acquire existing oil palm plantations to expand their hectarages.
— The Star Online

Mier: Consumer sentiment still weak
Recent surveys conducted by the Malaysian Institute of Economic Research (Mier) have found that although Malaysian manufacturers are highly optimistic about the year ahead, consumer sentiment has remained weak despite a slight improvement.
— The Star Online

EU-MCCI CEO hails Malaysia’s strengths
MALAYSIA has a strong business ally in European Union-Malaysia Chamber of Commerce and Industry’s (EU-MCCI) new chief executive officer (CEO) Roberto Benetello.
— New Straits Times

Petronas seeks to develop field
PETROLIAM Nasional Bhd (Petronas) is in the process of selecting a partner to co-develop its SK316 gas field in Sarawak and not wanting to sell it as reported by some media, said its president and chief executive officer Datuk
Wan Zulkiflee Wan Ariffin.
— New Straits Times

Report: How healthcare is boosting a ‘sick’ Malaysia
The Malaysian healthcare system has received much praise from a leading political analysis publication, in both the public and private sectors.
— Free Malaysia Today

Abu Dhabi Debt Deal to Help Clear Najib’s Path for Malaysia Vote
Barely two years after he was engulfed in a scandal over a Malaysia state fund, Prime Minister Najib Razak is set to clear another hurdle to putting the furor behind him and calling an early election.
— Bloomberg

Malaysia Needs Certified Financial Planners
Malaysia needs more certified financial planners to serve the growing demand for financial advice and financial planning in the country.
— finews.asia

Efforts to rein in Malaysian
DESPITE the various measures by the government to make housing more affordable, house prices continue to rise, although at a more gradual pace, participants at the “Post-Property Market Report 2016 dialogue” were told.
— The Nation

Malaysian govt committed to protecting local
DESPITE DIGITAL economy adviser Jack Ma bringing in 16 mega corporations to the Digital Free Trade Zone (DFTZ) in Malaysia, the Malaysian government would still ensure the interests of local corporations, encourage local corporations to work with foreign corporations and assist small and medium enterprises to have market share in DFTZ, Transport Minister Liow Tiong Lai said.
— The Nation/Sin Chew Daily

Automotive sector has bottomed out, is set for earnings recovery
Analysts are optimistic that the local automotive industry has bottomed out following three consecutive months of vehicle sales growth this year.
— The Star Online

Petronas selecting partner for gas field
Petroliam Nasional Bhd (Petronas) is in the process of selecting a partner to co-develop its SK316 gas field in Sarawak and not wanting to sell it as reported by some media, said its president and chief executive officer Datuk
Wan Zulkiflee Wan Ariffin.
— The Star Online

Gas Malaysia virtual pipeline goes online
GAS Malaysia Bhd, via its subsidiary Gas Malaysia IEV Sdn Bhd (GMIEV), has formally launched its virtual pipeline business following the officiation of its compressed natural gas (CNG) facility in Gebeng.
— New Straits Times

Teachers under extreme stress need counselling: Malaysia deputy minister
Teachers who experience ”extreme stress” while performing their duties are encouraged to seek counselling at the education ministry”s psychology and counselling division.
— Channel NewsAsia

Support grows for Sabah English schools
A federal minister from Sabah has backed a colleague’s proposal to re-establish English-medium government schools in the state.
— Malay Mail Online

Minister says constitutional monarchy ensures stability, inspires confidence in Malaysia
Malaysia’s constitutional monarchy has ensured stability which brings confidence to the country, says Communications and Multimedia Minister Datuk Seri Dr Salleh Said Keruak.
— Malay Mail Online

Penang plans to increase water conservation surcharge
The Penang government plans to increase the Water Conservation Surcharge for domestic use to ensure the precious commodity is used wisely.
— Malay Mail Online

Malays are ‘masters’ in Malaysia, deserve special privileges: Umno member
An Umno Supreme Council member rejected Saturday (April 22) any suggestion that the quota system is insulting to the Malay community in Malaysia.
— Today Online

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Myanmar Morning News

Compiled by Stella-maris Ewudolu @Estee

Exclusive: Myanmar’s Hello Cabs raises funding from iMyanmar Group founder
Hello Cabs, Yangon’s leading ride hailing app is learnt to have raised funding to the tune of ‘single digit millions’ of US dollars from Nay Min Thu, founder of iMyanmar Group, at a valuation of a high seven digit (US dollars), an executive with direct knowledge of the development said.
— Deal Street Asia

Myanmar e-commerce leader pushes for expansion
THOUGH a large percentage of Myanmar’s 53-million population still prefer going out to shop, more than half a million people visit Shop.com.mm, the nation’s leading e-commerce platform, for online shopping on a monthly basis, said its chief.
— The Nation/ The Star Online

Shan State National Level Political Dialogue begins
Shan State held a state-level political dialogue in Taunggyi yesterday, a meeting described as a milestone and a significant step taken by the people toward peace in the Union.
— Global New Light Of Myanmar

Minister urges locals to prepare for natural disasters
Union Minister Dr Win Myat Aye, the Vice Chairman of the National Natural Disaster Management Committee, met residents of Bogale town, Pyapon District and Kyonkan village, Pyapon township yesterday to oversee preparation works and ensure a proper response to natural disasters.
— Global New Light Of Myanmar

Police arrests one more suspect in publisher murder case, recovered victim’s belongings
Police arrested a man yesterday on suspicion of involvement in murdering of Wai Yan Hein, the publisher of the Iron Rose weekly news journal, according to the Yangon Region Police.
— Global New Light Of Myanmar

Myanmar to ease restrictions to create loan opportunities for pvt sector
Myanmar government is planning to relax restrictions and rules to create opportunities for providing loan for private sector development, an official report said Sunday.
— Eleven

Myanmar’s policy shifts towards major powers
Myanmar has made substantial shifts towards its relations with major powers comprising China, Russia and the United States. They are key regional players in Southeast Asia which will impact directly on peace and stability as well as economic development in Myanmar.
— Eleven

Woodside adds a fifth well in Myanmar drilling programme
Woodside Petroleum has added a fifth well to its Myanmar drilling programme, following successful results from the Thalin deepwater discovery, according to a report in OE Digital on April 20.
— Mizzima News

Myanmar rapped at UN
US Ambassador to the United Nations Nikki Haley added Myanmar to her list of usual suspects of concern when it comes to human rights during a UN Security Council meeting this week. – See more at: http://www.mizzima.com/news-domestic/myanmar-rapped-un#sthash.TPjRr92F.dpuf
— Mizzima News

Myanmar: Ceasefire On The Rocks, A Set Back To Suu Kyi? – Analysis
The recent attack by the MNDAA on the Army Posts at Laukkai, the headquarters of the Kokang region on 6th March, 2017 was followed by quick and heavy retaliatory attacks by the Tatmadaw (Myanmar Army) on the 10th.
— Eurasia Review

Georgians Caught With US$90,000 Of Stolen Cash
Two Georgian men were busted in a Myanmar airport with US$90,000 of stolen cash hidden in their underwear which they had swiped from a local money changer, police said Saturday.
— Global New Light Of Myanmar

Government to ease restrictions, rules to create loan opportunities for private sector
The government has a plan to relax restrictions and rules in order to develop opportunities for providing loans to the private sector.
— Global New Light Of Myanmar

Philippines Morning News

Compiled by Stella-maris Ewudolu @Estee

IMF sees Phl GDP growth at close to 7%
The Philippine economy is capable of growing by around seven percent over the next two years on the back of robust domestic demand as well as a strong recovery in exports, according to the International Monetary Fund (IMF).
— The Philippine Star

Gov’t subsidies rise nearly threefold in Feb
State subsidies to government-owned and -controlled corporations (GOCCs) have risen by almost threefold in February due to the National Irrigation Administration (NIA), data from the Bureau of the Treasury showed.
— Manila Bulletin

Abu Sayyaf rebels behead soldier
Abu Sayyaf militants beheaded a soldier they captured in the southern Philippine province of Sulu where security forces are battling the notorious group linked to the Islamic State, intelligence reports said.
— The Manila Times

Rice imports deferred
The government has decided to formally defer the importation of 250,000 metric tons of rice despite the continued insistence of the National Food Authority (NFA) to buy from international sources.
— The Philippine Star

Cigarette firm’s closure to hurt thousands of tobacco farmers
Hundreds of thousands of Filipinos supposedly will be affected if the government makes good its threat to close down homegrown tobacco company Mighty Corp.
— The Manila Times

PE firm Altus Digital Capital launches digitalization platform in SEA
A new private equity platform Altus Digital Capital (ADC) formally made its debut in the Philippines focused on investing in native digital companies in emerging markets in Southeast Asia.
— Deal Street Asia

UK opens £4.5B export-import facility in PH
The United Kingdom has offered the Philippines a chance to tap its £4.5-billion export-import facility as a financing option for the Duterte Administration’s massive infrastructure program, the Department of Finance (DoF) said over the weekend.
— The Manila Times

OceanaGold fights against Philippine mine suspension
Australian company OceanaGold has appealed directly to Philippine president Rodrigo Duterte against the suspension of its gold and copper mine on Luzon island that employs 1800 workers, most of them Filipinos.
— The Sydney Morning Herald

BSP survey of economists bares expectation of above-3% inflation rate in next three years
BANK ECONOMISTS widely expect inflation to stay above three percent until 2019 on the back of higher oil prices, rising power rates and a weaker peso, according to results of a recent central bank survey.
— BusinessWorld Online

Palace welcomes LP’s rejection of impeachment bid vs Duterte
Malacañang on Sunday welcomed the stand of Liberal Party lawmakers from the House of Representatives not to support the impeachment proceedings against President Rodrigo Duterte.
— Inquirer.net

Experts say tax amnesty acceptable only if it improves compliance
A TAX AMNESTY the government is considering will make sense only if it brings more delinquents into the fold, experts said last week.
— BusinessWorld Online

DOJ files Money laundering raps filed vs Deguito, Bautistas
The Department of Justice (DOJ) has filed money laundering charges against officials of the Rizal Commercial Banking Corporation (RCBC) and remittance firm Philrem Service Corp. (Philrem) in connection with the entry of $81 million stolen from a Bangladesh bank.
— The Manila Times

Cameras to catch ‘colorum’ vehicles
The Metropolitan Manila Development Authority (MMDA) will go after “colorum” (without a valid franchise) vehicles by setting up cameras to capture license plates and match these against a list of vehicles operating legally, MMDA officer in charge Tim Orbos said.
— Inquirer.net

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Singapore Morning News

Compiled by Stella-maris Ewudolu @Estee

Singtel units ink agreements for S$4.1b credit facilities with banks
SINGAPORE Telecommunications’ (Singtel) subsidiaries have inked agreements for credit facilities amounting to S$4.1 billion for general corporate purposes and refinancing of existing facilities, it said in a Singapore Exchange filing on Monday.
— The Business Times

Raffles Medical Q1 profit climbs 0.1% to S$15.5m despite lower revenue
RAFFLES Medical Group recorded S$15.5 million net profit in its first quarter, up 0.1 per cent from the same period a year ago, the group said in a Singapore Exchange filing on Monday morning.
— The Business Times

Sanitary plumbers to be licensed from April 2018
All sanitary plumbers will need to be licensed from Apr 1, 2018, PUB said on Monday (Apr 24).
— Channel NewsAsia

Changi Airport handled 5.11m passengers in March
A total of 5.11 million passengers passed through the doors of Changi Airport in March this year, a 4.3 per cent year-on-year increase, the Changi Airport Group (CAG) said on Monday (Apr 24).
— Channel NewsAsia

Retail brands from China defying stereotype to set up shop in Singapore
When Chinese sportswear brand Li Ning set up shop in Singapore in 2009, it took one month to sell its first badminton racket.
— The Jakarta Post

US buyout firm Varde to double APAC staff in distressed debt push
Varde Partners, the $12 billion U.S. buyout firm and distressed-debt investor, plans to double its Asia-Pacific staff in coming years as ballooning corporate debt offers investment opportunities, new regional head Ilfryn Carstairs said.
— Deal Street Asia

Singapore telco M1 approaches China Mobile, PE firms for stake sale
Top shareholders in Singapore telecoms company M1 Ltd have approached potential buyers China Mobile and global private equity firms, among others, to sell their combined majority stake in the firm, sources familiar with the matter said.
— Deal Street Asia

DeClout’s unit launches incubator arm to groom local ICT startups
CATALIST-LISTED DeClout Limited’s subsidiary DeClout Investments has launched an incubator arm to groom high-growth local startups from the information and communication technology (ICT) sectors, it said in a Singapore Exchange filing on Monday.
— The Business Times

More needs to be done to attract foreign maids
With more than 300,000 foreign maids needed in Singapore by 2030, the country has to step up its game if it wants to meet this projected demand, Centre for Domestic Employees (CDE) chairman Yeo Guat Kwang said yesterday.
— The Newpaper

Mobike to launch 1,000 parking zones this year
Bike-sharing platform Mobike expects to add up to 1,000 bicycle parking zones here by the end of the year.
— The Newpaper

Lippo’s Gentle Care in deal to buy S$15m of Gateway’s S$60m convertible notes
IPPO-LINKED Gentle Care has made an official cash offer to acquire all of Gateway Partners’ S$60 million convertible notes at S$0.042 per share, in line with its intent as stated in previous announcements.
— The Business Times

Data to help Government plan for disability services in Singapore
For years, no one has known with certainty just how many people with disabilities there are in Singapore. But this will change with a census that will be conducted in 2020.
— The Newpaper

AGV Group wins new projects totalling 29,000 tonnes of steel and iron
CATALIST-LISTED AGV Group Limited, which provides hot-dip galvanising services in Singapore and Malaysia, has clinched new contracts to galvanise some 29,000 tonnes of steel and iron for public and private sector projects, including Seletar Airport and a mega oil refinery in Johor, it said in a Singapore Exchange filing on Monday.
— The Business Times

Singapore Stock Market May Be Stuck In Neutral
The Singapore stock market has ticked higher in consecutive trading days, gathering more than a dozen points or 0.4 percent along the way. The Straits Times Index now rests just beneath the 3,140-point plateau, although the rally may stall on Monday.
— Nasdaq

Singapore shares open 0.4% higher on Monday
SINGAPORE stocks rose on Monday morning with the benchmark Straits Times Index up 12.13 points, or 0.39 per cent, to 3,151.96 as at 9.05am.
— The Business Times

Lazada, Uber And Netflix Team Up In Singapore
Southeast Asian online marketplace Lazada, owned by Alibaba, is joining forces with Uber and Netflix to launch a new digital loyalty program in Singapore.
— Which-50 (blog)

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Krabi coal plant up in the air
The government’s plan to build a coal-fired power plant in the coastal province of Krabi has once again been put on hold after Prime Minister Prayut Chan-o-cha scrapped the previous environmental health impact assessment (EHIA) and ordered the Electricity Generating Authority of Thailand (Egat) to conduct a new one with greater input from nearby communities.
– Bangkok Post

City Hall on back foot in clean-up drive
A heavy backlash from the public and food vendors has forced City Hall to come out and explain its planned “regulation” of street food in the capital.
– Bangkok Post

Ten banks see profits rise 8%
TEN BANKS have announced that their combined net profit in the first quarter of this year was Bt55.71 billion, up 8 per cent from the same period of last year, thanks to increases on both interest and non-interest income.
– The Nation

Govt praised for anti-corruption policies: Poll
A recent Suan Dusit poll has shown the general public are satisfied with the government’s anti-corruption policies, with an increased overall satisfaction towards the government.
– NNT

Commerce officials braced for new Trump measures
The government is scheduled to hold a joint meeting between the state and the private sector on Wednesday to discuss possible adverse impacts from executive orders signed recently by US President Donald Trump.
– Bangkok Post

Rubber Policy Committee extends loan project for another year
The Natural Rubber Policy Committee has resolved to extend a 10-billion-baht loan program for another year in the hope of stabilizing the rubber industry.
– Pattaya Mail

‘Yields dropping as govt bonds more popular now’
INVESTORS have flocked to subscribe to government bonds auctioned by the Finance Ministry after the Bank of Thailand tapered off its short-term-bond issuance this month, said Suwit Rojanavanich, director-general of the Public Debt Management Office.
– The Nation

MoU for PromptPay security
Telecommunications and banker associations will next month start joining forces for the handling of electronic money transfers and mobile banking services, as they prepare for security risk management control.
– Bangkok Post

Nok Air seeks B1.5bn capital injection
Nok Air has received shareholder approval to raise 1.5 billion baht in fresh capital to support its revival efforts.
– Bangkok Post

‘Second-class citizens’ after EEC
Academic warns of Massive land grabs in three provinces; privileges for foreign investors likened to pre1997 Hong Kong
– The Nation

Thailand expects to host 12 lakh tourists from India in 2017
Thailand, the South Asian country mainly known for its tropical beaches and cuisine, is eyeing 12 lakh travellers from India this year.
– The Economic Times

150,000 Thais working abroad in March
Some 150,000 Thai workers employed in foreign countries at present, generated 10.25 billion baht that was sent back to Thailand, says DOE chief.
– NNT

Thailand Salary Guide 2017
Whether you are looking for employees to hire or to find a job that suits your profile, knowing the salaries usually granted for certain positions, in certain industries and with a certain level of experience can be very useful. For such purpose, here is a detailed report to assess your HR cost or salary expectations in Thailand.
– AseanUp

DSI gears up to freeze new Tarit asset list
The anti-graft agency is gearing up to freeze almost 100 million baht from former Department of Special Investigation (DSI) chief Tarit Pengdith in a fresh probe into his alleged ill-gotten assets.
– Bangkok Post

All taxis to be equipped with tracking devices
All taxis will soon be required to have safety devices according to the Department of Land Transport.
– Pattaya Mail

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Vietnam Morning News

Compiled by John Le Fevre @photo_journ

NA may strip deputy title over Formosa
The National Assembly’s Standing Committee will ask the National Assembly to consider stripping Võ Kim Cự of his NA deputy title for his wrongdoings in the Formosa environmental disaster, said the NA Secretary General Nguyễn Hạnh Phúc on Saturday.
– Viet Nam News

ANZ sells Vietnam retail business to Shinhan Bank
ANZ has agreed to sell its retail business in Vietnam to Shinhan Bank, which is part of the Shinhan Financial Group, a South Korean company.
– hubbis

Proposal to upgrade HCM City airport mooted
It estimates the cost of newly building and upgrading the runway area, terminals and transport system around the airport at around VNĐ19.3 trillion (US$850 million).
– VIETNAMNET Bridge

Vietnam Bank Aims to Fetch $700 Million Selling Majority Stake
The first Vietnamese bank granted government approval to sell a majority stake to a foreign investor could attract an investment of at least $700 million.
– Bloomberg Markets

Wealth management services launched in Vietnam
“What we are gathering strength to develop now is the wealth management platform. It is now the right time to launch the service,” the banking director of a large bank said.
– VIETNAMNET Bridge

New technology ups rice value in Cần Thơ
The installation of automated processing lines in a major rice mill is set to boost hi-tech marking in Can Tho City, officials say.
– Viet Nam News bizhub

Hotel room shortage looms as MICE arrivals increase
A sharp increase in MICE (Meeting, Incentive, Conference and Event) tourist arrivals in HCM City has fuelled concern among tourism firms over possible shortages of hotel rooms and conference halls.
– VietnamPlus

Vietnam food sector needs a complete overhaul
Most Vietnamese businesses in the sector currently lack a commitment to sustainable nutrition— to food that is both made and consumed sustainably. Far too many also show a distinctive lack of concern for public health.
– VIETNAMNET Bridge

Construction ministry to set condotel rules
The construction ministry will study the legality of condotels and issue technical standards soon to ensure that the development of this new property product is on the right track.
– Viet Nam News bizhub

Key traffic routes for central Vietnam planned
The central province of Quang Nam will start construction this year of key traffic route projects to connect strategic economic zones, sea and air ports in the central provinces and Central Highlands.
– VIETNAMNET Bridge

Vietnamese firms need improvement in corporate governance – VCCI
Increasingly more domestic companies have been entering the Vietnamese market over the past decade, but they need to improve management capacity in order to raise competitiveness and better respond to business environment changes, the Vietnam Chamber of Commerce and Industry (VCCI) said.
– VnExpress.net

Is Vietnam’s agriculture suffering from “Dutch disease”?
Nguyen Duc Thanh from the Vietnam Institute for Economic and Policy Research (VEPR) believes that Vietnam’s agriculture is suffering from so-called Dutch disease. It is still fumbling for ways to develop, though it leads the world in the output of some products.
– VIETNAMNET Bridge

Sharp rise in Q1 fertiliser imports
Viet Nam spent US$338 million to import 1.22 million tonnes of fertiliser in the first quarter of this year, up 31.5 per cent in volume and around 24 per cent in value compared to the same period last year, the Ministry of Agriculture and Rural Development (MARD) reported.
– Viet Nam News bizhub

Vietnamese firms set for active mergers season
In late February Indian State-owned mining giant, the National Mineral Development Corporation (NMDC), was in talks with Masan Resources Corporation(MSR) to buy a stake in the latter’s Núi Pháo tungsten mine.
– Viet Nam News

Soc Trang advised to expand high-yield rice, fruit tree farming
The Mekong Delta province of Soc Trang should expand the cultivation of high-yield rice varieties and fruit trees of its strength, Prime Minister Nguyen Xuan Phuc has told provincial officials.
– VietnamPlus

HCM City district to get a ‘jewellery street’
District 5 in HCM City will honour its venerable goldsmithing tradition by converting Nhiêu Tâm and Nghĩa Thục streets into a so-called jewellery street.
– Viet Nam News

HCM City to develop food industry
The HCM City People’s Committee and the HCM City Food and Foodstuff Association (FFA) last Friday signed a co-operation programme to boost the development of the city’s food and foodstuff industry.
– Viet Nam News

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Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.